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Author: Silhouette1920 Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120801  
Subject: Re: Consequences of Underwithholding Date: 2/20/2002 9:52 PM
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"I made a serious -- and very stupid -- error when I calculated my withholding requirements for Tax Year 2001. "

Ack! Just so you know you're not alone, my new husband and I also made a really dumb error when calculating our witholding for 2001. We got married in January 2001, and for the entire year, BOTH of us marked "2" married deductions on our W-4 without realizing what that really meant. Now we owe the IRS $1,000 this year and don't have the money to pay it. We figure we'll pay what we can, and request an installment plan. A very painful error!! I now claim 0 and he claims 1. Hopefully we won't screw ourselves again in 2002.

Nichole
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